{
  "id": 15565335,
  "title": "Finda to become 1st fintech firm to acquire savings bank",
  "url": "https://urgent.news/2026/10/19/finda-to-become-1st-fintech-firm-to-acquire-savings-bank-15565335",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-19T05:42:03.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times",
    "url": "https://www.koreatimes.co.kr/business/banking-finance/20261019/finda-to-become-1st-fintech-firm-to-acquire-savings-bank"
  },
  "original_language": "en",
  "account": "Finda, a Korean loan comparison platform, is poised to become the first fintech firm to acquire a savings bank, according to industry officials. The Financial Services Commission's subcommittee approved the acquisition of Daewon Savings Bank on Friday. The regulator is scheduled to announce its final decision at a regular meeting on Wednesday. In June, Finda signed a deal to purchase all of Daewon Savings Bank's shares for approximately 12 billion won ($9 million). This acquisition will enable Finda to transition from simply matching borrowers with lenders to providing direct financial services, such as loans and deposits. Upon final approval, Finda intends to elect a new CEO through board and shareholder meetings. The company aims to transform Daewon Savings Bank into an AI-native bank, leveraging digital services instead of traditional branch networks. Utilizing AI technology and loan-comparison data gathered since 2019, Finda plans to expand its online lending business across the country.",
  "summary": "Finda, a loan comparison platform, is set to acquire a savings bank, in what would be a first for a Korean fintech company, as it looks to build an artificial intelligence (AI)-native bank, industry officials said Monday. The Financial Services Commission's subcommittee approved Finda's application to acquire Daewon Savings Bank on Friday. The regulator is set to make a final decision at its…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Korea Times",
        "title": "Finda to become 1st fintech firm to acquire savings bank",
        "url": "https://urgent.news/2026/10/19/finda-to-become-1st-fintech-firm-to-acquire-savings-bank",
        "published": "2026-10-19T05:12:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}